Some in the GOP are Listening to Ron Paul: GOP introduces bill blocking EU bailouts

[bobbyw24]

By Jay Heflin - 05/13/10 07:04 PM ET

House Republican leaders on Thursday introduced legislation blocking U.S. tax dollars from being used by the International Monetary Fund (IMF) to bailout European countries.

"All across America, people are suffering from bailout fatigue and yet the Obama administration is launching a new bailout bonanza: $8 billion in U.S. tax dollars for Greece, over $50 billion for the European Union, and perhaps billions more as European governments face the inevitable fiscal crunch caused by generous welfare benefits whose costs have become too exorbitant to pay," said House Republican Conference Vice Chair Cathy McMorris Rodgers (R-Wash.), in prepared remarks.

The bill, titled The European Bailout Protection Act, prohibits any funds that have been drawn by the IMF from financing an EU bailout until all EU nations are in compliance with their debt-to-GDP ration requirement. It also requires the Treasury Secretary to oppose any IMF loans until all EU countries abide by the aforementioned ratio

http://thehill.com/blogs/on-the-mone...ing-eu-bailout

[haaaylee]

"until all EU nations are in compliance with their debt-to-GDP ration requirement."

[low preference guy]

"until all EU nations are in compliance with their debt-to-GDP ration requirement."

i would think it'll take 'em a while...



but with fake accounting, maybe it's a matter of hours.